CEB and CERMi are proud to announce that the 2019 Warren Samuels Prize was awarded to the article “Too Many Cooks Spoil the Broth: The Conflicting Impacts of Subsidies and Deposits on the Cost-Efficiency of Microfinance Institutions” authored by Anastasia Cozarenco (Montpellier Business School, France, and CERMi), Valentina Hartarska (Auburn University, USA) and Ariane Szafarz (ULB, SBS-EM, Centre Emile Bernheim, and CERMi, Belgium)
The Warren Samuels Prize is awarded by the Association for Social Economics (ASE) to a paper, presented at the Allied Social Science Associations (ASSA) Meetings, that best exemplifies scholarly work that is of high quality, is important to the project of social economics, and has broad appeal across disciplines.
The rewarded article (https://ideas.repec.org/p/sol/wpaper/2013-280911.html) evaluates how subsidies affect the cost-efficiency of microfinance institutions (MFIs) while accounting for endogenous self-selection into the business models of credit-only versus credit-plus-deposit MFIs. The findings suggest that unsubsidized credit-plus-deposit MFIs have achieved optimal capacity and therefore constitute the most cost-efficient group of institutions. In addition, the unsubsidized credit-only MFIs are the farthest away from their minimum cost. Between the two polar cases, there are subsidized institutions, among which the credit-only ones are closer to optimal capacity. The results reveal the redundancy between subsidization and deposit-taking in microfinance. Combining funds from donors and depositors tends to harm cost-efficiency.
Valentine Fays (doctorante ULB-UMONS) a obtenu le Prix de la Journée de la Recherche décerné par la Fédération Wallonie-Bruxelles pour un article intitulé "Discrimination salariale envers les migrants: quels impacts du pays de naissance et de la concurrence sur le marché des produits?". Les auteurs de l'article sont les suivants: Valentine Fays, Benoît Mahy, François Rycx et Mélanie Volral.
New article - le Soir (online): "Patrons, gare au bore-out de vos salariés !" by Sandra Rothenberger
New article - l'Echo: "Ignorer les erreurs est la pire erreur de management" by Vincent Giolito
Publications & press
UCB - The First Ninety Years 1928-2018 By Kenneth Bertrams, Lannoo, 2019 - Direct link
Is Corruption Curable? By Khalid Sekkat, Palgrave Macmillan 2018 - Direct link
From April 11 to April 13 2019 - The 24th edition of the Spring Meeting of Young Economists
The Université libre de Bruxelles has been selected to organize the 24th edition of the Spring Meeting of Young Economists. From April 11th 2019 to April 13th 2019, this event will gather around 200 young economists. The organizing committee is delighted to announce four distinguished keynote speakers: Michael D. Bordo (Rutgers University), Paul Collier (University of Oxford), David K. Levine (European University Institute) and Eric Maskin (Harvard University). Further details concerning the conference are available on: http://smye2019.weebly.com/.
MANAGEMENT CAfé DU 20 février 2019
La finance peut-elle rendre le capitalisme plus responsable?
NOUVEAU LIEU "Aux Compagnons" / Silversquare Triomphe
Avenue Arnaud Fraiteur 15-23, 1050 Bruxelles à 18h30
Animation : Etienne de Callataÿ, Cofondateur de Orcadia Asset Management & Hugues Pirotte, Professeur de finance au Centre Emile Bernheim, Solvay Brussels School of Economics and Management (SBS-EM)
Modération : Vincent Giolito, Chercheur au Centre Emile Bernheim, Solvay Brussels School of Economics and Management (SBS-EM)